TRID Improvement Act of 2018
Latest action · Feb 28, 2018 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedFeb 23, 2018
- Passed HouseFeb 27, 2018
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
TRID Improvement Act of 2018
(Sec. 2) This bill amends the Real Estate Settlement Procedures of 1974 to modify disclosure requirements applicable to mortgage loan transactions. Specifically, the disclosed charges for any title insurance premium shall be equal to the amount charged for each individual title insurance policy, subject to any discounts as required by either state regulation or the title company rate filings.
(Sec. 3) The bill amends the Fair Credit Reporting Act to allow the reporting of certain positive consumer-credit information to consumer reporting agencies. Specifically, a person or the Department of Housing and Urban Development may report information related to a consumer's performance in making payments either under a lease agreement for a dwelling or pursuant to a contract for a utility or telecommunications service. However, information about a consumer's usage of any utility or telecommunications service may be reported only to the extent that the information relates to payment by the consumer for such service or other terms of the provision of that service. Furthermore, an energy-utility firm may not report a consumer's outstanding balance as late if the firm and the consumer have entered into a payment plan and the consumer is meeting the obligations of that plan.
Specified provisions of the Consumer Credit Protection Act that establish civil liability with respect to furnishers of information to consumer reporting agencies shall not apply to any violation of the bill.
The Government Accountability Office must report on the consumer impact of such reporting.
Cosponsors
Members who signed on, in the order they did.
Actions 9
Everything that happened, newest first.
- Feb 28, 2018Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Feb 27, 2018Considered under suspension of the rules. (consideration: CR H1306-1308)
- Feb 27, 2018DEBATE - The House proceeded with forty minutes of debate on H.R. 5078.
- Feb 27, 2018Motion to reconsider laid on the table Agreed to without objection.
- Feb 27, 2018Mr. Hill moved to suspend the rules and pass the bill, as amended.
Related bills 6
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 435 | The Credit Access and Inclusion Act of 2017 | Related bill | Jun 26, 2018 |
| S 488 | Encouraging Employee Ownership Act | Related bill | Jul 18, 2018 |
| S 2490 | TRID Improvement Act of 2018 | Related bill | Mar 5, 2018 |
| S 3040 | Credit Access and Inclusion Act of 2018 | Related bill | Jul 12, 2018 |
| HR 3978 | TRID Improvement Act of 2017 | Related bill | Feb 15, 2018 |
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 3
Each version as it was printed, newest first.
- Feb 28, 2018Referred in Senate
- Feb 27, 2018Engrossed in House
- Feb 23, 2018Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.